Oil prices could hit $100 a barrel during the first half of 2022 amid low global commercial stocks, Iraq’s Oil Minister Ihsan Abdul Jabbar Ismaael said on Wednesday, as carried by Reuters. At the same time, the minister told reporters in Baghdad that the OPEC+ group was considering ways to balance the market as the alliance does not want oil to exceed certain “acceptable” levels. An “acceptable” long-term price range for oil prices would be between $75 and $85 per barrel, the Iraqi oil minister said, quoted by Reuters. The OPEC+ group is “at the same time against further boosting global oil inventories, as they could lead to the collapse of oil markets,” said the minister of OPEC’s second-largest producer behind Saudi Arabia. At the end of last month, Jabbar Ismaael said that OPEC+ was working to keep oil prices around $70 per barrel . The official said the […]